Illinois Municipal Retirement Fund Boosts Stock Position in Live Nation Entertainment, Inc. $LYV

Illinois Municipal Retirement Fund lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 43.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,917 shares of the company’s stock after acquiring an additional 6,659 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Live Nation Entertainment were worth $3,581,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares in the last quarter. CWM LLC boosted its holdings in Live Nation Entertainment by 10.0% in the 2nd quarter. CWM LLC now owns 2,608 shares of the company’s stock worth $395,000 after buying an additional 237 shares during the period. Sequoia Financial Advisors LLC increased its stake in Live Nation Entertainment by 5.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,992 shares of the company’s stock worth $453,000 after buying an additional 161 shares in the last quarter. NorthRock Partners LLC bought a new stake in Live Nation Entertainment during the second quarter valued at about $217,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the second quarter valued at about $206,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on LYV shares. Deutsche Bank Aktiengesellschaft cut their target price on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Citigroup reduced their price objective on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Rothschild & Co Redburn lowered their target price on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $172.45.

Live Nation Entertainment Trading Up 2.3%

Shares of LYV opened at $158.39 on Friday. The stock has a market capitalization of $37.18 billion, a PE ratio of 114.78, a P/E/G ratio of 10.48 and a beta of 1.18. The company’s fifty day moving average is $144.25 and its 200 day moving average is $149.94. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.